ACCOUNTS - Final Accounts preparation

AMSTONE PROPERTY MANAGEMENT LIMITED - Company Information

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Registered number: 7627406

AMSTONE PROPERTY MANAGEMENT LIMITED

Unaudited

Abbreviated accounts

for the period ended 31 March 2016

AMSTONE PROPERTY MANAGEMENT LIMITED

Company Information

DIRECTORS	M. Halsey
	A. Siddiqi


REGISTERED NUMBER	7627406


REGISTERED OFFICE	3 Hollins House
	331 Hale Road
	Hale Barns
	Cheshire
	WA15 8TS


ACCOUNTANTS	Madisons
	Bushbury House
	435 Wilmslow Road
	Withington
	Manchester
	M20 4AF

AMSTONE PROPERTY MANAGEMENT LIMITED

Contents

	Page
Accountants' report	1
Balance sheet	2
Notes to the abbreviated accounts	3 - 4

AMSTONE PROPERTY MANAGEMENT LIMITED

The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Amstone Property Management Limited for the year ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Amstone Property Management Limited for the period ended 31 March 2016 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a firm registered with of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/
regulations-standards-and-guidance.

This report is made solely to the Board of directors of Amstone Property Management Limited, as a body, in accordance with the terms of our engagement letter dated 3 March 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Amstone Property Management Limited and state those matters that we have agreed to state to the Board of directors of Amstone Property Management Limited, as a body, in this report in accordance with ICAEW Technical release TECH07/16AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Amstone Property Management Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Amstone Property Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Amstone Property Management Limited. You consider that Amstone Property Management Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Amstone Property Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Madisons

Bushbury House

435 Wilmslow Road

Withington

Manchester

M20 4AF

1 November 2016

Page 1

AMSTONE PROPERTY MANAGEMENT LIMITED

Registered number: 7627406

Abbreviated balance sheet

as at 31 March 2016

	31 March	30 September
	2016	2015

Note

CURRENT ASSETS
Debtors	21,384		(758)
Cash at bank	28,210		-

	49,594		(758)
CREDITORS: amounts falling due within one year	(50,718)		(602)
NET CURRENT LIABILITIES		(1,124)		(1,360)

TOTAL ASSETS LESS CURRENT LIABILITIES

£(1,124)

£(1,360)

CAPITAL AND RESERVES
Called up share capital	2	1	1
Profit and loss account		(1,125)	(1,361)

SHAREHOLDERS' DEFICIT

£(1,124)

£(1,360)

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:

A. Siddiqi

Director

Date: 1 November 2016

The notes on pages 3 to 4 form part of these financial statements.

Page 2

AMSTONE PROPERTY MANAGEMENT LIMITED

Notes to the abbreviated accounts

for the period ended 31 March 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	1.2	Cash flow
		The financial statements do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective January 2015).

	1.3	Turnover
		Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax.

	1.4	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

	1.5	Foreign currencies
		Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the profit and loss account.

Page 3

AMSTONE PROPERTY MANAGEMENT LIMITED

Notes to the abbreviated accounts

for the period ended 31 March 2016

2.SHARE CAPITAL

	31 March	30 September
	2016	2015
	£	£
Authorised

100 Ordinary shares of £1 each	£100	£100

Allotted, called up and fully paid

1 Ordinary share of £1	£1	£1

3.RELATED PARTY TRANSACTIONS

Included within the profit and loss account are the following management fees receivable from non UK companies partially owned by the Amanat Trust. Mr. A. Siddiqi, the Managing Director, is the settlor of the Amanat Trust which is registered and managed in Guernsey.

	Management fees receivable 2015	Amount outstanding 2015	Management fees receivable 2015	Amount Outstanding 2015
	£	£	£	£
GCI 2 Limited	2,652	-	5,218	-
GCI 3 Limited	6,187	-	12,173	-
GCI 4 Limited	1,681	-	3,307	-
GCI 5 Limited	3,158	-	6,213	-
GCI 6 Limited	844	-	1,661	-
GCI 7 Limited	5,761	-	11,110	-
GCI 8 Limited	3,515	-	8,107	-
GDPP 3 Limited	6,346	-	12,534	-
	£30,144	£	£60,323	£

Included within the profit and loss account are management charges payable of £29,000 (2015: £60,000) to the company's parent undertaking, Amstone Developments Limited a company registered in England and Wales.
Included within other creditors is an amount due to Amstone developments Limited of £50,516 (2015: £Nil). The loan is interest free with no fixed repayment terms. Amstone Developments Limited is wholly owned by the director Mr A Siddiqi.
Included within other debtors is an amount due from Amstone Special Projects Limited of £24,000 (2015: £Nil). The loan is interest free with no fixed repayment terms. Amstone Special Projects Limited is owned by the director Mr A Siddiqi, and is registered in Guernsey.

4.ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking is Amstone Developments Limited. Amstone Developments Limited is wholly owned by Mr. A. Siddiqi, the Managing Director. The company number is 2402369.

Page 4